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36 comments on Lord Browne Speaks, Beyond Petroleum?

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Bubba on December 1, 2005 - 11:45pm Permalink | Subthread | Parent | Comments top
Looking on BP's website it is hard to find out how much they are investing in renewables (or any other segment of their business), but for one thing, they report PROFIT from renewables from under the heading of "Gas, power, and renewables".  Of this the "Gas, Power, and Renewable" segment made 0.9 billion out of almost $26 billion in profit (2004 numbers). This is about 4% of the total, and you can bet that the "Gas and Power" part made the lion's share of that profit.

BP is into alternatives and renewables for the PR value, not to make money, at least in the short to medium term.

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Bubba on December 2, 2005 - 12:05am Permalink | Subthread | Parent | Comments top
Apparently, 2 days ago BP just launched a subsidiary called Alternative Energy.  Again they play up the Wind, Hydrogen and Solar, but they include gas-fired power.  They claim that they will invest 8 billion dollars in the next 10 years in this business starting off with an investment of 1.8 billion for the next 3 years - roughly split equally between all four business segments.  

This is great, but it is not a significant chunk of BP's investment capital.  My guess is that it is about 5% of their forecasted capital over that period.

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sampo on December 2, 2005 - 1:13am Permalink | Subthread | Parent | Comments top
excuse me, but bubba...you f*cking rock.

thx for the infos

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36 comments on Lord Browne Speaks, Beyond Petroleum?

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